CANTEEN FUNDS

New Zealand Times, Volume LII, Issue 12095, 24 March 1925, Page 3

CANTEEN FUNDS

GRANT OF £IO6O PER YEAR. TO TRENTHAM SCHOLARSHIP. At the recent annual meeting of the N.Z.E.F. Canteen and Regimental Trust Board the balance-sheet showed the total' funds to he £172,360 10s, placed as follows: —Investments at b per cent., £80,000; investments at 5J per cent., £60,000; investments at 61 per cent., '£21,500 at 51 per cent., £20,860 10s; total, £172,360 10s.

The’ transactions since the previous annual report on February 28th, 1924, were as follow:—Balance at February 23th, 1924, £162,896 9s 4d; receipts during year for sales of histories. £1864 4s 4d; receipts during year foi interest, £9509 17a 9d, Total, £174,360 11a sd. Less payments for histories, £1928 8s lOd, and administrative and' miscellaneous expenses, £7l 12s 7d, leaving a 'balance of £172,360 10b.

A grant c.f £IOOO per annum for 10 years from the interest earned was approved to the Trcntham Scholarship Fund to assist in the education of children of deceased and disabled soldiers.

< The policy of the board remains the same, viz., the preservation of the funds for relief purposes in a similar manner to the various war relief funds, as the latter become exhausted.